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You betcha: If you paid on student loans in the prior tax year, you might qualify for the student loan tax deduction, which allows borrowers to deduct up to $2,500 in interest they paid from their ...
Medical expenses: You can claim a deduction for medical and dental expenses greater than 7.5% of your adjusted gross income if you itemize your deductions. Student loan interest: If you made ...
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Then you might be able to deduct up to $2,500 worth of the interest you paid for either a federal or private student loan — or both. You can claim the deduction on your federal income tax return ...
In addition, Form 1098-E, which is the student loan interest statement, is due at the same time to anyone who paid $600 or more in student loan interest in the previous year. Despite discussions ...
Higher education can often mean higher student loan payments. These payments seem to compound after graduation when you are officially staring down the amount of interest you owe on top of your...
The standard deduction is a dollar-for-dollar reduction of your taxable income. Nearly all taxpayers are entitled to this deduction. The standard deduction amounts for tax year 2023 are as follows:
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